Corporate Transparency Act – BOI Report Filings Mandatory Again

February 21, 2025

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On February 18, 2025, the U.S. District Court for the Eastern District of Texas issued an Order in the Smith case lifting the preliminary injunction against enforcement of the CTA. Therefore, BOI report filings are once again mandatory. FinCEN has extended the deadline to file an initial, updated, and/or corrected BOI for most companies to March 21, 2025. The Alert from FinCEN can be found here.

As indicated by FinCEN, we expect more changes to come, but we do not know what they are or who they will affect. The changes will likely include further extended deadlines and possibly limit who needs to file. We will issue an updated alert once further information is available.

We will continue to monitor updates regarding the effectiveness of the CTA, pending litigation, and possible legislative changes and will provide updates as they become available. Please contact us if you need assistance in complying with the CTA.

This update is prepared for the general information of our clients and friends. It should not be regarded as legal advice. If you have questions about the issues raised here, please contact Claire Brown, Jessica Morgan, or the attorney with whom you normally consult.

About Tonkon Torp
Tonkon Torp LLP is a leading business and litigation law firm serving public companies, substantial private enterprises, entrepreneurial businesses, and individuals throughout the Northwest. Tonkon Torp is celebrating its 50th year in business! See our History Timeline for more information, or visit tonkon.com.